Question

is the peom applicable to the worlds current standing?​

Answer 1

Answer:

yeah definitely it does

Answer 2

Answer:

Companies having turnover or gross receipts less than 50 crores will not come under the scrutiny of POEM (Circular 8/2017 of CBDT).

Before going into conceptual depth, it is most important to know that the concept of POEM (Place of Effective Management) originates from the Indian Income Tax Act, 1961 for taxing shipping companies based on their POEM. However, this concept, for the purpose of determination of residence of a foreign company was first introduced in Direct Tax Code 2010.

Explanation: